Mr. Mario Stifano reports

GALANTAS GOLD INTERCEPTS 17.9 METRES AT 2.87% COPPER, 0.77 GRAMS/TONNE GOLD, 0.46% ZINC AND 0.03% COBALT AT GAIRLOCH PROJECT IN SCOTLAND

Galantas Gold Corp. has released the results of the first exploration drill hole at the Gairloch project in Scotland.

Drilling highlights:

• Cobalt and vanadium, which are part of the United Kingdom's list of critical minerals, have been discovered, in addition to other minerals that are important raw materials enabling the transition to clean energy, including copper, silver, titanium and zinc.
• Hole 23-GL-01 intersected 2.87 per cent copper, 0.77 gram per tonne gold, 0.46 per cent zinc, 0.03 per cent cobalt and 7.52 g/t silver over 17.9 metres, including 5.08 per cent Cu, 0.46 g/t Au, 0.35 per cent Zn, 12.93 g/t Ag, 0.01 per cent Co, 0.23 per cent titanium and 176 g/t vanadium over 1.68 metres.
• Four holes have been completed over the main deposit area, totalling 190.4 metres, with another two holes planned by August.

While the titanium and vanadium grades are low in this first hole, they indicate their presence within the system and the potential to discover higher grades.

Drill program

This drill hole is part of a program of six holes aiming to test the Kerry Road deposit, which has seen limited historical drilling and has never had a resource estimate. The mineralized horizon intercepted in the first hole, 23-GL-01, was observed within a quartz-carbonate-rich unit sandwiched between hornblende schist. The sulphide within this horizon was predominantly massive and semi-massive pyrrhotite and chalcopyrite.

Two further holes are planned -- one which will test the mineralization at a deeper level and a deep hole to test below the current deposit.

Mario Stifano, chief executive officer of Galantas, commented: "This is a fantastic result for our first drill hole in Scotland, demonstrating significant polymetallic grades. The discovery of new critical minerals is a major development for the project, and we look forward to reporting further results as they become available."

Prospecting at the Gairloch project

Prospecting has identified multiple massive sulphide horizons in outcrop at newly exposed bedrock from a road cutting 1.5 kilometres east of the Kerry Road deposit. Further prospecting will continue along trend toward the Gorm Lochs prospect, which lies 10 km south of Kerry Road. Historical samples collected at Gorm Lochs include up to four g/t Au in outcrop (see Galantas's news release dated Jan. 26, 2023).

Qualified person and quality assurance/quality control

The technical and historical information in this release has been reviewed and approved by Gavin Berkenheger (CGeol, EurGeol), who is considered, by virtue of his education, experience and professional association, a qualified person under the terms of National Instrument 43-101. Mr. Berkenheger is not considered independent under NI 43-101, as he is a consultant of Galantas Gold.

Galantas Gold operates according to rigorous internal quality assurance/quality control protocols with respect to the insertion of blanks, standards and duplicates into the sample stream prior to dispatch to ALS Laboratories, which are consistent with industry best practices. The QP has reviewed the quality assurance/quality control results in relation to these drill results and is satisfied that the results as reported are reliable.

Hole 23-GL-01 was positioned over the outcropping mineralization and drilled at a 45-degree dip in NQ core size. Core samples were split in half in mainly metre-long samples, inserting regular blanks and standards for quality assurance/quality control purposes. Analysis was conducted by ALS Laboratories in Loughrea, Ireland. Samples were prepared using PREP-31B, crushed to 70 per cent passing fewer than two millimetres, rifle split off one kilogram and pulverize split to better than 85 per cent passing 75 micrometres. Multielement analysis was conducted using ME-ICP61a four-acid digestion with ICP-AES finish. Gold was analyzed using Au-AA25 ore-grade fire assay.

About Galantas Gold Corp.

Galantas Gold's strategy is to create shareholder value by operating and expanding gold production and resources at the Omagh project in Northern Ireland, and exploring the Gairloch project, which hosts the Kerry Road gold-bearing volcanogenic massive sulphide deposit, in Scotland.

We seek Safe Harbor.